DR Congo Economic Outlook
April 26, 2022GDP growth more than tripled last year, following the pandemic-induced slowdown in 2020. The upturn seems to have been driven by booming mining activity amid higher prices for and sales of copper, cobalt and cocoa. Turning to 2022, the economic panorama is somewhat less upbeat, as soaring food and energy prices, mostly due to the war in Ukraine, threaten to bruise consumer spending. In late March, the parliament voted out the Economy Minister Jean-Marie Kalumba, blaming him for failure to rein in inflation and as fears of increased social unrest due to rising prices surfaced. In other news, on 29 March, DR Congo officially joined the East African Community. The accession bodes well for the country’s economic development, as it should boost trade, investments and the overall business environment thanks to deeper economic integration with the six other members of the block.
DR Congo Economic GrowthGrowth is expected to remain strong in 2022. Investment activity and the external sector should benefit from elevated copper prices and the continued expansion of the Kamoa-Kakula copper mine. Meanwhile, faster household spending growth will provide additional impetus to domestic demand. Political uncertainty and a volatile inflation backdrop are key risks. FocusEconomics panelists see GDP growth at 4.7% in 2022, which is up 0.2 percentage points from last month’s forecast, and 5.4% in 2023.
DR Congo Economy Data
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5 years of DR Congo economic forecasts for more than 30 economic indicators.
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DR Congo Facts
|Exchange Rate||1,687||-0.78 %||Jan 01|
|Stock Market||0.6||0.0 %||Jan 07|
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